Pledge n.
1. Law The transfer of possession of personal property from a debtor to a creditor as security for a debt or engagement; also, the contract created between the debtor and creditor by a thing being so delivered or deposited, forming a species of bailment; also, that which is so delivered or deposited; something put in pawn.
Note: ☞ Pledge is ordinarily confined to personal property; the title or ownership does not pass by it; possession is essential to it. In all these points it differs from a mortgage [see Mortgage]; and in the last, from the hypotheca of the Roman law. See Hypotheca.
2. Old Eng. Law A person who undertook, or became responsible, for another; a bail; a surety; a hostage. “I am Grumio's pledge.”
3. A hypothecation without transfer of possession.
4. Anything given or considered as a security for the performance of an act; a guarantee; as, mutual interest is the best pledge for the performance of treaties. “That voice, their liveliest pledge of hope.”
5. A promise or agreement by which one binds one's self to do, or to refrain from doing, something; especially, a solemn promise in writing to refrain from using intoxicating liquors or the like; as, to sign the pledge; the mayor had made no pledges.
6. A sentiment to which assent is given by drinking one's health; a toast; a health.
Dead pledge.
Living pledge.
To hold in pledge, to keep as security.
To put in pledge, to pawn; to give as security.
Syn: -- See Earnest.